Blockchain Liangqiu: Hold onto high-position short positions for Bitcoin/Ethereum patiently as of 10.17, waiting for further declines.

CN
5 hours ago

Follow for more, earn millions. Hello everyone, I am analyst Liang Qiu. Here I share my views, hoping that every friend who follows can achieve good returns!

First published on Weibo, you can follow Weibo Blockchain Liang Qiu, focusing on mainstream coin guidance and layout. Bitcoin/Ethereum have been fluctuating at high levels multiple times in the past few days. Bitcoin even reached a peak of around 68,400 before starting to pull back. We have repeatedly emphasized that the 68,000 to 68,500 range for Bitcoin serves as a previous daily level dividing line for bulls and bears. Short positions can only be entered if the position is well arranged, as the current space is limited, and there is no need to chase long positions. In fact, reviewing the market in the past few days, Bitcoin's multiple highs did not see altcoins following closely, and even during Bitcoin's pullback, altcoins showed significant declines. Bitcoin has risen 9,500 points from the low of this round of increase to the current high, making the risk of going long significantly greater.

From the four-hour perspective, Bitcoin has consecutively closed several bearish candles, and the bullish momentum has shown signs of fatigue. Even after a decline, it is not advisable to chase long positions; instead, one should continue to short as the short-term rise has been too large. Moreover, the four-hour Bollinger Bands have started to contract, indicating that the trend has already formed, and there is insufficient momentum for further upward movement. The upper resistance remains at 68,000 to 68,500, which is still the high point of this round of market.

Operational advice: Continue to patiently hold high-position short positions. Enter short positions for Bitcoin around 67,400 to 67,700, with the first target at 65,500 and the second target at 64,500. For Ethereum, enter short positions around 2,635 to 2,655, with the first target at 2,550 and the second target at 2,460. The publication is effective, and specific strategies are based on real-time guidance.

Currently, the market outlook is relatively good. I recommend trading altcoins like ORDI, LPT, SOL, and UNI in a swing trading manner, with specific operations based on real-time guidance. For more strategies, please follow Weibo: Blockchain Liang Qiu.

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